Accountants bring in the big bucks

BIG BUCKS: Chartered accountants remain one of the highest-paid professional groups, according to a survey.

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Chartered accountants remain one of the highest-paid professional groups, but salaries have now stabilised after several years of increases, according to the 2010 New Zealand Institute of Chartered Accountants (NZICA) remuneration survey.

The average income of a chartered accountant is now $139,077, up 1 percent on last year.

The survey shows wide fluctuations in salary by region, type of position, and sector.

During the recession there was high demand for the skills and expertise of qualified accountants and less demand for accountants who were not yet fully qualified.

Chartered accountants in the financial services sector received a 14 percent salary increase over 2009, the largest for any sector and possibly a result of being the first sector to be impacted by the recession and, subsequently, the first to recover.

Chartered accountants in small public practice firms had an average 3 percent decrease whereas those in the public sector rose 4 percent.

Chartered accountants in the non-for-profit sectors increased 3 percent.

The largest increases were in Wellington (3.1 percent) and Christchurch (1.6 percent).

Auckland continues to hold the highest average chartered accountant income of $151,372.

"While we have seen decreases in graduate salaries affecting our provisional members, it is pleasing to see growth in our membership of 3 percent over the same period," said Terry McLaughlin, NZICA chief executive.

The annual independent survey captures salaries of over 10,000 chartered accountants in different positions, companies, locations and industry types.

- NZPA